Alex Michel

Bias in Supply Management Decisions

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Debiasing Strategies in Supply Management Decision-Making

… and what to do about it.

Decisions within a company are not made on pure rational grounds. Assuming that there is the will to make a rational decision, nevertheless limits in information gathering, computing capabilities and memory lead to irrational conclusions (bounded rationality).

So the goal must be to enhance rational decision making and for this end Kaufmann et al. (2009) developed a framework to combat irrationality.

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